Assenagon Asset Management S.A. Has $7.18 Million Stock Holdings in Myriad Genetics, Inc. $MYGN

Assenagon Asset Management S.A. trimmed its holdings in Myriad Genetics, Inc. (NASDAQ:MYGN) by 10.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,167,734 shares of the company’s stock after selling 136,429 shares during the period. Assenagon Asset Management S.A. owned 1.25% of Myriad Genetics worth $7,182,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MYGN. EverSource Wealth Advisors LLC increased its position in Myriad Genetics by 2,333.3% during the second quarter. EverSource Wealth Advisors LLC now owns 4,672 shares of the company’s stock worth $25,000 after buying an additional 4,480 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of Myriad Genetics by 1,088.7% in the third quarter. Hantz Financial Services Inc. now owns 4,089 shares of the company’s stock worth $30,000 after buying an additional 3,745 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Myriad Genetics during the 2nd quarter worth about $37,000. PNC Financial Services Group Inc. increased its holdings in shares of Myriad Genetics by 41.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,967 shares of the company’s stock valued at $48,000 after acquiring an additional 2,625 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Myriad Genetics by 23.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,120 shares of the company’s stock valued at $51,000 after acquiring an additional 1,347 shares during the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

Myriad Genetics Price Performance

Shares of NASDAQ:MYGN opened at $4.28 on Friday. The firm has a market capitalization of $400.21 million, a PE ratio of -1.09 and a beta of 1.91. The company has a current ratio of 2.49, a quick ratio of 2.26 and a debt-to-equity ratio of 0.33. Myriad Genetics, Inc. has a 1-year low of $3.76 and a 1-year high of $9.43. The business’s 50 day moving average is $5.00 and its 200-day moving average is $6.41.

Myriad Genetics (NASDAQ:MYGN) last issued its earnings results on Monday, February 23rd. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. The firm had revenue of $209.80 million during the quarter, compared to analysts’ expectations of $207.57 million. Myriad Genetics had a negative return on equity of 6.35% and a negative net margin of 44.38%.Myriad Genetics’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the business earned $0.03 earnings per share. Sell-side analysts predict that Myriad Genetics, Inc. will post -0.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MYGN. Zacks Research upgraded Myriad Genetics from a “strong sell” rating to a “hold” rating in a report on Thursday, February 26th. Wells Fargo & Company lowered their price target on Myriad Genetics from $6.50 to $6.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 24th. UBS Group dropped their price target on shares of Myriad Genetics from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Myriad Genetics in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.94.

Insider Activity

In related news, CEO Samraat S. Raha acquired 40,000 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were bought at an average cost of $5.00 per share, with a total value of $200,000.00. Following the completion of the acquisition, the chief executive officer owned 493,104 shares of the company’s stock, valued at $2,465,520. This trade represents a 8.83% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director S. Louise Phanstiel acquired 48,000 shares of the stock in a transaction dated Friday, February 27th. The stock was bought at an average price of $4.66 per share, for a total transaction of $223,680.00. Following the completion of the purchase, the director owned 281,951 shares in the company, valued at approximately $1,313,891.66. This trade represents a 20.52% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 144,507 shares of company stock worth $694,548. 2.40% of the stock is owned by company insiders.

About Myriad Genetics

Myriad Genetics (NASDAQ: MYGN) is a molecular diagnostics company that develops and commercializes genetic tests designed to assess an individual’s risk for various hereditary conditions and to guide personalized treatment decisions. The company’s core business centers on predictive medicine, with a focus on hereditary cancer risk assessment through its flagship BRACAnalysis® test for BRCA1 and BRCA2 gene mutations. In addition to oncology, Myriad offers tests in women’s health, neurology and pharmacogenomics to support more informed clinical decision-making.

Among its product offerings are the myRisk® Hereditary Cancer test, which screens for mutations across multiple cancer-related genes, and Prequel®, a non-invasive prenatal test for assessing fetal chromosomal abnormalities.